Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Debt Capital Markets

Tunas Baru Lampung / Debt Capital Markets

Tunas Baru Lampung (TBLA) is conducting roadshows for a 5NC3 Reg S only bond issuance, with a size of up to USD 200 mn. The proceeds will be used to refinance existing debt, which comprises USD 37 mn of unsecured and USD 158 mn of secured bank loans. TBLA is a vertically integrated palm oil and sugar plantation company. The Indonesia-based group focuses on downstream and branded products. We see fair pricing for the proposed Notes at 7.5-7.75%.

Tunas Baru Lampung (TBLA) is conducting roadshows for a 5NC3 Reg S only bond issuance, with a size of up to USD 200 mn. The proceeds will be used to refinance existing debt, which comprises USD 37 mn of unsecured and USD 158 mn of secured bank loans.  TBLA is a vertically integrated palm oil and sugar plantation company. The Indonesia-based group focuses on downstream and branded products.  We see fair pricing for the proposed Notes at 7.5-7.75%. 

Tunas Baru - New Issue Assessment - Lucror Analytics

Indonesia

PT Tunas Baru Lampung Tbk is an Indonesian company that produces and sells vegetable cooking oil, sugar, and crude palm oil both domestically and internationally. The company operates in two segments: Plantations and Manufacturing, offering products like palm cooking oil, palm kernel oil, stearine, sugar, and soaps. It also engages in palm oil and sugarcane plantation activities. The company was founded in 1973 and is headquartered in Jakarta, Indonesia.

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Tunas Baru Lampung (TBLA IJ)

Tunas Baru - New Issue Assessment - Lucror Analytics

Tunas Baru Lampung (TBLA) is conducting roadshows for a 5NC3 Reg S only bond issuance, with a size of up to USD 200 mn. The proceeds will be used...

Lucror Analytics

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